GAMMA Investing LLC Takes $34,000 Position in Old Republic International Co. (NYSE:ORI)

GAMMA Investing LLC acquired a new position in Old Republic International Co. (NYSE:ORI) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 1,200 shares of the insurance provider’s stock, valued at approximately $34,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Northern Trust Corp lifted its stake in shares of Old Republic International by 13.1% during the 3rd quarter. Northern Trust Corp now owns 2,460,669 shares of the insurance provider’s stock worth $66,290,000 after purchasing an additional 284,491 shares during the last quarter. Invesco Ltd. grew its holdings in shares of Old Republic International by 55.2% during the third quarter. Invesco Ltd. now owns 2,263,038 shares of the insurance provider’s stock valued at $60,966,000 after buying an additional 804,803 shares during the last quarter. AQR Capital Management LLC increased its holdings in shares of Old Republic International by 3.3% in the third quarter. AQR Capital Management LLC now owns 1,812,451 shares of the insurance provider’s stock valued at $48,827,000 after purchasing an additional 58,008 shares during the period. LSV Asset Management raised its position in Old Republic International by 44.3% during the 3rd quarter. LSV Asset Management now owns 1,526,990 shares of the insurance provider’s stock worth $41,137,000 after buying an additional 469,000 shares during the last quarter. Finally, UBS Group AG raised its holdings in shares of Old Republic International by 1,208.9% during the third quarter. UBS Group AG now owns 1,511,315 shares of the insurance provider’s stock worth $40,715,000 after purchasing an additional 1,395,849 shares during the last quarter. Institutional investors own 70.92% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on ORI shares. Piper Sandler lifted their target price on shares of Old Republic International from $32.00 to $38.00 and gave the company an “overweight” rating in a report on Monday, April 1st. StockNews.com raised Old Republic International from a “hold” rating to a “buy” rating in a research note on Friday, April 26th.

Old Republic International Stock Down 0.1 %

Shares of NYSE:ORI opened at $30.62 on Monday. The business has a fifty day moving average of $29.76 and a two-hundred day moving average of $29.03. Old Republic International Co. has a 52-week low of $24.17 and a 52-week high of $31.22. The company has a quick ratio of 0.25, a current ratio of 1.28 and a debt-to-equity ratio of 0.31. The stock has a market cap of $8.44 billion, a P/E ratio of 11.91 and a beta of 0.81.

Old Republic International Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 21st. Investors of record on Monday, March 11th were given a $0.265 dividend. This represents a $1.06 annualized dividend and a yield of 3.46%. This is a positive change from Old Republic International’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Friday, March 8th. Old Republic International’s dividend payout ratio is presently 41.25%.

Insider Buying and Selling

In related news, Director Barbara Adachi bought 1,925 shares of the company’s stock in a transaction that occurred on Friday, February 16th. The stock was purchased at an average price of $28.60 per share, for a total transaction of $55,055.00. Following the acquisition, the director now owns 7,845 shares of the company’s stock, valued at $224,367. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, Director Therace Risch acquired 6,086 shares of the stock in a transaction dated Tuesday, April 30th. The stock was acquired at an average cost of $29.77 per share, with a total value of $181,180.22. Following the completion of the transaction, the director now owns 6,086 shares in the company, valued at approximately $181,180.22. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Barbara Adachi purchased 1,925 shares of the stock in a transaction on Friday, February 16th. The shares were purchased at an average price of $28.60 per share, with a total value of $55,055.00. Following the acquisition, the director now directly owns 7,845 shares in the company, valued at $224,367. The disclosure for this purchase can be found here. Corporate insiders own 1.00% of the company’s stock.

Old Republic International Profile

Old Republic International Corporation, through its subsidiaries, engages in the insurance underwriting and related services business primarily in the United States and Canada. It operates through three segments: General Insurance, Title Insurance, and Republic Financial Indemnity Group Run-off Business.